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Sales by India’s Auto Parts Industry Jump 18%
Revenue generated by India’s auto partsmakers climbed to $51 billion in the fiscal year ended March 31 from $43.1 billion in the previous 12-month period.
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Revenue generated by India’s auto partsmakers climbed to $51 billion in the fiscal year ended March 31 from $43.1 billion in the previous 12-month period, according to the country’s Automotive Components Manufacturers Assn.
ACMA says exports for the year soared 24% to $13.5 billion. One-third of those shipments went to customers in Europe. North America and Asia accounted for 28% and 25%, respectively. India’s primary parts exports include drivetrain, steering, suspension, braking and body/chassis components.
India’s imported car parts during the last fiscal year grew 18% to $15.9 billion. The trade group says 60% of the total came from Asian sources. Europe supplied 30%, and 8% came from North America.
ACMA predicts that India’s auto parts industry will quadruple to $200 billion by 2026, with exports representing $70 billion of the total by then.
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